REGENXBIO (NASDAQ:RGNX) Sees Strong Trading Volume – Still a Buy?

REGENXBIO Inc. (NASDAQ:RGNX) saw an uptick in trading volume on Monday . 1,477,339 shares were traded during trading, an increase of 143% from the previous session’s volume of 608,766 shares.The stock last traded at $10.47 and had previously closed at $9.63.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RGNX shares. Morgan Stanley reissued an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a research report on Friday, November 15th. Barclays cut their price target on shares of REGENXBIO from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Raymond James reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, HC Wainwright raised their price target on shares of REGENXBIO from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.64.

REGENXBIO Stock Performance

The company’s fifty day moving average price is $10.43 and its 200 day moving average price is $12.16. The firm has a market capitalization of $473.60 million, a price-to-earnings ratio of -1.90 and a beta of 1.23.

Insider Buying and Selling

In related news, Director Argeris N. Karabelas sold 10,000 shares of REGENXBIO stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $10.11, for a total value of $101,100.00. Following the sale, the director now directly owns 11,286 shares in the company, valued at $114,101.46. This trade represents a 46.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.13% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

A number of hedge funds have recently made changes to their positions in RGNX. Barclays PLC increased its position in REGENXBIO by 141.3% in the 3rd quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock valued at $1,217,000 after acquiring an additional 67,948 shares during the period. Geode Capital Management LLC increased its holdings in shares of REGENXBIO by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock valued at $11,422,000 after purchasing an additional 44,037 shares during the period. National Bank of Canada FI bought a new stake in shares of REGENXBIO during the third quarter valued at about $713,000. Stifel Financial Corp increased its stake in REGENXBIO by 13.3% during the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock valued at $1,566,000 after buying an additional 17,563 shares during the period. Finally, Redmile Group LLC raised its position in shares of REGENXBIO by 7.1% during the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock worth $51,327,000 after buying an additional 323,100 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.